Three months after relocating to their new premises in the newly completed building that represents phase 2 of the redevelopment of NCGM, we have been asking traders how the facilities have been treating them so far. Here are the thoughts of Nick Santoniccolo of Vincenzo Ltd
It’s been quite a smooth transition from the old unit to the new for Vincenzo Ltd. “We had a few very busy months in the summer when we were organising contractors, the fit out, phone lines and broadband etc… but apart from the odd glitch in the first 10 days after we moved in, everything has been good,” said Nick.
“The premises are great – we’re in a completely different situation to what we’ve been used to. Because they are brand new, it’s just a case of getting used to them and sorting out a few minor details.
“We’ve got a lot more space to organise our stock now; plenty of warehouse space and the mezzanine level, which allows us to put out which allows us to put out best in class Italian fruit and veg and specialist Italian products (olive oils, wines, frozen fish, charcuterie, cheeses etc…) we want customers to come and see. We’ve also got a really good office and conference rooms. We’ve also got a really good office and conference room,” Nick said.
“We obviously need to account for a potential rising cost structure going forward and so we are continuing to import directly from markets and local growers in Italy that we have longstanding relationships with. We’re all working in uncertain economic times and as of the beginning of 2023 most economies are at an inflation crossroads but promising signs in the US that inflation has peaked is reassuring for central banks, global markets, supply chains and our industry and puts us on the road to the end of the rate hike cycle we’ve seen in 2022. Although, the Bank of England’s report in November predicted a recession by Q3 2023, due to seasonality with our clients this tends to be the busiest quarter of the year and so it is extremely unlikely that we will see QoQ declines in growth even if felt across the wider economy. Nevertheless, we’ve always found that customers who were strong before the pandemic and pre-inflationary pressures continue to be strong now – the top-end restaurants and high-end hotels which we exclusively operate within. The highest quality and service is an enduring combination, and we continue to strive to lead from the front.
“Regarding the Market, there is obviously still a lot of construction going on here and maybe it’s not time yet to expect / invite customers and locals to come to the Market, but when the redevelopment ends, we hope to see more customers and locals here. It’s important to our business and the general awareness and visibility of the market. The Market has a responsibility to make itself as accessible as possible.”